Toyota Pakistan, Indus Motor Company (IMC), which makes Toyota automobiles, would “completely” shut down its production factory from February 1 to 14 due to “insufficient inventory levels.”
The IMC management, in a letter to the Pakistan Stock Exchange general manager, that in light of the recently introduced mechanism vide EPD Circular No. 20 of 2022 dated December 27, 2022 (effective from January 2), commercial banks were advised to prioritize/facilitate imports to specified sectors only, which did not include auto.
“The company and its vendors continue to face major hurdles in import of raw materials and receiving clearance of their consignments from commercial banks,” the notice read.
Toyota said these deterrents affected the supply chain and prevented vendors from supplying raw materials and components. Accordingly, the company has insufficient inventory levels. Consequently, the company is unable to continue its production activities.
The automaker announced a February 1–14 plant shutdown.
, which makes Toyota automobiles, would "completely" shut down its production factory from February 1 to 14 due to "insufficient inventory levels."){kind=link}